At the recent Automotive News World Congress in Detroit, the session that may have created the greatest buzz was a panel on Internet strategies. There, dealers learned tips from those making the most of their online presence. In today’s market, two of every three automotive buyers research their purchases online before going to a dealership, a trend that will only increase as online search technology continues to improve. Consumers want timesaving practical functions like the ability to search for similar vehicles across brands.
Many successful dealers have learned that marketing expensive or exclusive accessories and vehicles on the Internet may attract attention, but it’s using the Net “to offer customers choice and transparency” that draws the sale. These insights all point to one simple fact: the Internet is giving automotive consumers the control and the power that they’ve never had in the past. eBay Motors has always realized the importance of connecting with what the customer wants. That connection helps eBay Motors offer a simple, secure and flexible platform that brings buyers together with sellers. Part of the flexibility built into eBay Motors is Buy It Now, a popular option that allows sellers to offer fixed price as part of a standard listing. The introduction of the next generation Best Offer feature in early 2006 only adds to the flexibility on eBay Motors. Best Offer allows buyers and sellers to negotiate prices on the eBay Motors platform through a back and forth dialogue. The newest upgrades to Best Offer include enhanced functionality that not only encourages buyers but also assists sellers throughout the transaction.
When a dealer uses Best Offer, the option allows individual consumers to submit offers, rather than a bid or a take-it-or-leave-it price. The dealer can then negotiate with these buyers online through eBay. When buyer and seller come to an agreement, the final offer becomes a binding bid and the listing comes to an end.
With Best Offer, the dealer can set a target asking price, obtain offers from multiple buyers, and determine which offer is best and with which buyer to negotiate. The improved Best Offer feature also allows dealers to:
Make and accept counter-offers – Sellers can respond directly to a Best Offer by making a counter-offer.
Previously, the seller could only reject offers with a counter-offer in the text of the accompanying e-mail. The new functionality allows the seller to make an offer that the buyer can immediately accept.
